India Fashion Electric Business Rise HRX Majority Stake

Recently, Myntra, a fashion business in India, started to promote the development of its own brand, starting with the majority ownership of HRX. The Myntra did not disclose the specific terms of the paction, saying only that it would complete the paction in the next few weeks.

Rajesh Narkar, vice president of Myntra fashion brand, said: "the company will

Brand advantage opens up the sporting goods market in India and provides more choices for local consumers.

HRX also pointed out: "Myntra's stake means that we can get more comprehensive analysis and customer preferences. This platform will bring greater impetus to our market development.

HRX insiders revealed that the company plans to expand the scale of the India line this year and is discussing the opening of an independent outlets.

In the international market, HRX will expand to Western Asia.

In this connection, HRX can help Myntra achieve its own development goals through data analysis, online channel strength and product self construction.

It is understood that at present, Myntra's own brand building has surpassed its parent company Flipkart and rival Jabong.

Profits from private brands rather than third party brands are the main drivers of Myntra's profit plan in the next two years.

Myntra plans to sell its own brand by March 2017.

The previous 20% rose to 30% and reached the target of total sales in fiscal year 500 billion rupees.

EY enterprise Consultation Service Co market leader further explained the importance of Myntra's paction.

"Building private brands can bring higher profit margins on the one hand. On the other hand, it helps retailers to remain competitive and improve their marketing and brand promotion capabilities."

HRX brand, which focused on sporting goods and lifestyle shopping, was founded by actor Hrithik Roshan in 2013, and then sold to Myntra and Flipkart.

Besides shoes and clothing, it also sells leather products, bags and other items.

Myntra is headquartered in Bangalore, 2014.

Acquisition, Myntra monthly active users reached 8 million.

In January, Myntra realized an annual GMV of US $800 million, an increase of 70% over the same period. It is estimated that GMV will exceed US $1 billion in fiscal year 2016-2017.

At present, it is reducing sales promotion efforts and reducing supply chain costs, and plans to make profits in the end of fiscal year 2016-2017.